Panthers Bank Of America Stadium Renovations Approved
Last night the Charlotte City Council voted to move forward on a joint renovation plan. The Carolina Panthers Bank of America stadium renovations have been approved. An $800 million plan will be shared between Tepper Sports & Entertainment and the City of Charlotte. However, the city will take on the bulk of the cost, committing $650 million to update the nearly 30-year-old home of the Carolina Panthers and Charlotte FC. Terms of the deal include a 20-year non-relocation agreement. But both teams could leave as early as 15 years as long as Tepper Sports pays any remaining city debt associated with the renovation deal.
Some members of the council were not in favor of the deal based on the 7-3 vote. Concerns were expressed regarding committing such a sum to David Tepper. Tepper, the billionaire owner of the Panthers, has a well-documented history of backing out of huge construction deals. Other community members criticized the city’s lack of transparency about the process. And also claimed the city’s efforts to receive public input wasn’t a priority.
On the other hand, business and hospitality leaders were in complete favor of the plan. City Council member Malcolm Graham had this to say:
“More importantly, it’s about travel and tourism, which is what I said from the dais. One in nine individuals in this community work in that industry, busboys and waiters and waitresses and Uber drivers and small business owners and those who work at the hotels,” Graham said. “So I’m very happy that this went through. Sports and Entertainment is in the DNA of the city of Charlotte.”
Panthers Bank Of America Stadium Renovations Approved
Now that the plan has been approved, what will the renovations include? Here’s a video of what the stadium may look like. Some of the improvements will include:
- Brand new seats
- New scoreboards, video signage and a state-of-the-art sound system
- Concourses and social areas redesigned to elevate the fan experience, including a new patio on the 500 level
- Improved concessions capabilities to provide a more diversified selection
Whatever feelings people may have about the plan, the owner of the Panthers is happy. In a statement he said, “Nicole and I are grateful for the collaboration and support of the project, as well as our ongoing partnership between Tepper Sports & Entertainment and the city. We are proud to be in the Carolinas and look forward to delivering a venue that meets the needs of our community, players, and fans for years to come.”
So for better or for worse, the stadium renovations will move forward.
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